The global Broadcast Switchers Market is expected to reach USD 1.93 billion by 2020, according to a new study by Grand View Research, Inc. Transition to digital from traditional analog technology is expected to propel market growth over the next six years. Changing consumer preferences and favorable regulatory scenario have led to high degree of digitization and HD display adoption, which is also expected to be a key market driver over the forecast period. Operational ease during broadcasting and video transmission may favorably impact the market.
Although standard definition (SD) demand has been decreasing, digitization is expected to fuel 4K and full HD adoption; this is expected to present a sizable opportunity for companies operating in the market. Rising production automation demand is also expected to be a growth driver over the forecast period. Restraints to market growth include need for standardization as well as high cost of lighting equipment, cameras, digital audio mixers, etc.
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Further key findings from the report suggest:
- Routing switchers accounted for over 40% of the global market in 2013; the segment is further expected to gain market share over the forecast period. Growing amount of video content has led to installation of sophisticated broadcasting products so as to provide high quality streaming. Production switchers are expected to witness high growth, and manufacturers have focused on reengineering and product development measures.
- Sports broadcasting accounted for over 20% of the market share in 2013, mainly due to demand for high resolution format. Key manufacturers have aimed to provide multi-definition switchers capable of functioning in varied environments. Growth in demand for outside broadcasting vans is expected to drive the production trucks segment over the next six years.
- North America is expected to continue being the market leader over the forecast period; it accounted for over 35% of the market in 2013. Asia Pacific is expected to be a fast growing regional market over the forecast period due to investments in broadcast infrastructure.
- Key industry participants include Sony, Snell Group, Ross Video, Broadcast Pix, Panasonic Corporation, Harris Broadcast, etc. Major vendors differ on the basis of their product offering, with innovation and establishing global presence among the key strategies employed.
For more information: http://www.grandviewresearch.com